My solution was to install Microsoft's free "Windows XP Mode" for Windows 7, which they still offer for download. It's basically Windows Virtual PC plus a Windows XP disk image to run in it. Then I installed only my pre-2016 version of LabVIEW onto that virtual machine. It's basically like having a separate PC just for building XP-compatible installers on. Just make sure that you don't install any updates (e.g. to VISA or DAQmx) that are too new for XP.
